London Trading Session Heads Up Thursday, August 10, 2017

London opening news digest

EUR/USD: Neutral (since 07 Aug 17, 1.1785): Immediate bias is for a probe lower towards 1.1680.When we shifted from a bullish to neutral stance on Monday (see update on 07 Aug), we held the view that the “the immediate bias is for a probe lower towards 1.1680”. In line with our expectation, EUR dipped to a low of 1.1687 yesterday before

RBNZ kept rates unchanged at 1.75%, and said it expected inflation to rise at a gradual pace. The Reserve bank of New Zealand also went on to say that a weaker kiwi is needed for more balanced growth. The NZD is weaker against both the euro and the USD this morning, after some initial strengthening following the communication.